Research Dive has added a report on the global aerospace maintenance chemical market. According to the report, the market is going to witness a glorious high of $ 8,512.7 million by 2026 from $ 6,720.0 million in 2018 at a CAGR of 3.6% during the forecast period. The report covers and analyzes the potential of the industry and offers statistics and information on market dynamics, growth factors, key challenges, major drivers & restraints, opportunities for the forecast period. The report offers sound forecasts on market value and volume that can be beneficial for the market players, investors, stakeholders, and new entrants to obtain complete insights and achieve a top position in the market.
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The report evaluates the global aerospace maintenance chemical market based on aircraft type, product type, nature of chemical, and region. The reports offer detailed insights on drivers & opportunities, key segments, and top market players in the industry. The report reveals that the growing requirements to improve the fuel efficacy of the aircrafts and rising demand for eco-friendly chemicals is the major driver of the market across the globe. On the other hand, rise in maintenance costs, shortage of labor, and implementation of strict government rules on the use of aerospace maintenance chemicals are some of the major factors limiting the market growth. Furthermore, increasing concerns related to the adverse effects of CO2 emissions on the environment is also expected to encourage growth of the market in coming years.
Increasing demand for organic chemicals to influence the market growth
The organic market for aerospace maintenance chemical is projected to reach up to $6,890.4 million, and grow at a CAGR of 3.2% during the forecast period. The key factor fueling the growth of this segment is the increasing demand by producers owing to the properties of organic chemicals.
Growing air travels to leverage the market growth during the forecast period
The products evaluated in the research report include cleaning fluids, cleaner, adhesives, and others. The cleaning fluids product contributed the highest revenue share to the global market in 2018. This segment is anticipated to register a CAGR 2.7% over the forecast period. Apart from this, the adhesives segment is expected to garner $1,358.4 million by 2026. The type of aircrafts in the study include helicopters, light passenger jets, jumbo passenger jets, mid-size passenger jets, and spacecraft. The light passenger segment contributes $2,352.0 million to the global market in 2018, and will gather around $3,121.2 million by 2026. This is mainly due to the increase in the number of air passengers in the Europe and Asia-Pacific region.
The United States and Canada to dominate the market
According to report, the North America aerospace chemical market is estimated to generate a revenue of $2,933.5 million by 2026 and is anticipated to rise at a CAGR of 2.8% during the forecast period. The U.S. and Canada are the countries that are leading the market. It is mainly due to the expansion of airline industry in the U.S.
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Key players of the Industry
Some of the major players listed in the aerospace maintenance chemical market report include Exxon Mobil Corporation (NYSE: XOM), Delta TechOps (NYSE: DAL), Embraer S.A. (NYSE: ERJ), Air France Industries (KLM ADR), GE Aviation (NYSE: GE), Airbus SAS, AAR Corporation (EPA: AIR), Boeing (NYSE: BA), Bombardier Inc. (TSE: BBD.B), Henkel AG & Co. KGaA (ETR: HEN3), Nexeo Solutions (NASDAQ:NXEO), and Eastman Chemical Company (NYSE: EMN) among many others. They have implemented several strategies such as acquisitions, mergers, and joint ventures, to acquire a strong position in the global market.
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